Label Sabyasachi, the most noteworthy label in Indian fashion has been in the latest fashion news for a strategic move of partnering with Aditya Birla Fashion and Retail Limited. Aditya Birla Fashion will now own 51% stakes at Label Sabyasachi owned by Indian fashion designer Sabyasachi Mukherjee.
The famous Indian fashion designer Sabyasachi Mukherjee had a humble beginning in the year 1999 when he started retailing under his label from Kolkata. With time the label run by the designer himself entered into numerous associations and collaborations. This always kept it in the latest fashion news and the designer as the most desired couturier label in India.
With a presence across the globe and a strong foot in India, the USA, UK, Middle East, the label in 2019 was growing at a rate of 30% PA.
The Indian luxury fashion house and the famous fashion designer in India Sabyasachi Mukherjee lead the label into various categories of fashion ranging from apparel, footwear to Jewelry.
Aditya Birla Fashion and Retail Limited (ABFRL) is the apparel business of Aditya Birla Group also comprising of the well-known retail chain Pantaloons fashion and Madura Fashion. Its leading brands are Louis Philipe, Van Huesen, Allen Solly, Peter England, and the offline and online rights for the India network of Forever 21.
In 2019, Aditya Birla Fashion bought a major stake in the label Shantanu and Nikhil and also acquired the Jaypore Brand. Having a network of more than 3,000 brand stores and a firm presence across 25,000+ multi-brand stores, the ABFRL is one of the leaders in the fast fashion and retail fashion industry in India.
The Indian luxury brand through the partnership is expected to becoming a global luxury house. The deal expected to close by March took place at a 51% stake in Label Sabyasachi for speculated INR. 398 crore. The ABFRL envisions to tap the ethnic wear market (luxury)and build a wider and premium portfolio through the partnership.
India is surely moving towards making fashion industry, this latest fashion news of Sabyasachi and Aditya Birla Fashion is sure to bring some great results for both the Indian fashion designer and the Aditya Birla Group. The journey of Sabyasachi from a label to a brand will change the luxury couturier fashion of India from a global perspective.